August 11, 2020
€1 The estimated value of the contract relating to the tender.
Framework Agreement - Two Stage Approach The planned outcome of the procurement exercise, and number of tendering stages to use for evaluating and selecting suppliers.
September 21, 2020 - September 21, 2022 The expected duration of any contractural agreements.
Ireland The country from where any contracts awarded will be managed, following the completion of the tender exercise.
ISME, the Irish Small and Medium Enterprises Association, is the largest independent trade association representing small and medium enterprises in Ireland and has been actively lobbying for the interests of SMEs since 1993. ISME is a multi-sector (‘horizontal’) trade association representing SMEs in all sectors of commercial activity.
Insurance is one of the most important areas for Irish SME owners, and ISME has been working and lobbying aggressively for legislative reform over the last five years. Given the systemic importance of insurance, the fact that most SMEs cannot trade without it, and the fact that underwriters are exiting certain business sectors in Ireland, ISME intends to offer a wider set of insurance solutions to the SME sector.
ISME seeks expressions of interest from underwriters, insurance brokers and allied professionals who wish to assist ISME with:
It is intended to offer benefits to both member and non-member companies, but respondents must undertake to discount insurance services to ISME members. Since ISME already offers group insurance schemes, respondents are encouraged to express interest in the captive insurance section.
In 2017 the Central Bank of Ireland reported there were 78 captive (re)insurance companies domiciled in Ireland. For 2018, total assets stood at €6.5 billion, gross written premiums non-life was €900 million and gross written premiums life was €23 million. It is ISME’s intention to greatly increase the penetration of non-life captive insurance in the domestic market, not just to reduce cost, but to counter the flight of underwriters from this market.
In the case of captive insurers, respondents must detail how they would ensure compliance with the Central Bank of Ireland’s Corporate Governance Code for Captive Insurance and Captive Reinsurance, and the operational guidance requirements applicable to captive insurance undertakings.
ISME’s membership is multi-sectoral, but the sectors of greatest density where we believe captive insurers could be readily formed are:
· Solicitors and Legal Services
· Equine Services
· Engineering services (multi-disciplinary)
· Childcare services
· Financial Services
· Food and Beverage Manufacture
· Information Technology and Services
· Logistics, Warehousing and Distribution
· Pharmaceutical Manufacture and Supply
· Nursing Homes
· Office Equipment and Supply
· Security Services
· Medical Practitioners
In a recent survey of our membership, 88% of respondents said they would consider participating in a captive insurer.
The company must have a strong track record in insurance and be expert in all aspects of insurance.
The company will be asked in a subsequent phase of this process to outline their proposed approach towards setting up:
a) A group insurance scheme
b) A mutual
It is envisaged that recruitment into these schemes will happen on an ongoing basis until a materiality threshold is reached to move from a group scheme into a mutualised covered scheme.
ISME has asked ISME member, Sluamor Ltd, to coordinate the process of sourcing provider(s) for these services.
All queries should be directed through Sluamor.com. Queries directed to ISME staff members will be redirected back to this site.
All expressions of interest will be reviewed on their merits.
Additional lots will be opened in the event that there is sufficient interest to warrant it.
This is a two stage process. A tender will issue in the next stage to shortlisted candidates.
6 partners required Number of suppliers required, per lot where relevant.
Reference #: 22
Published: July 2, 2020916
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